Volpi Capital

What Volpi Capital does

Volpi Capital is a Pan-European private equity firm founded in 2016 by Crevan O'Grady and Marco Sodi, headquartered in London with a Luxembourg management entity (Volpi Capital Management Lux Sarl) that supports cross-border fund structuring. The firm specializes in the lower mid-market B2B software and technology services segment, typically investing €25-75 million of equity in companies with enterprise values between €50 million and €200 million. Its investment model is a buy-and-build strategy focused on international expansion, consolidation, and operational scaling, executed through both platform acquisitions and a high volume of bolt-on transactions.

The firm's portfolio spans Smart Mobility (Moving Intelligence, Cyclomedia), Core Business Software (Boyum IT, Yaveon, Bluestar PLM, CLEVR, Adacta, Evitec, TeleMatrik), Data and Application Services (Version 1, Xalient, Asolvi, Lightfoot, Digital Barriers), and adjacent niches, with operating geographies covering Europe plus the US, Canada, and India. Volpi reports 40+ completed add-on acquisitions across 45+ geographies and a 3.6x realized Multiple on Capital. The firm does not develop technology products; its offering is capital plus hands-on operational and M&A advisory support to founders and management teams.

Volpi generates revenue through standard private equity economics: management fees on committed capital under management (approximately €1.1 billion across three funds: Fund I €185M closed April 2018, Fund II €323M closed December 2020, Fund III currently investing) and carried interest from realizations such as the 2022 sale of Version 1 to Partners Group. Distribution to portfolio companies is via direct private equity partnerships, and to limited partners through a dedicated eFront investor portal. The firm is authorized and regulated by the UK Financial Conduct Authority (FRN 812164), is a UN PRI signatory since 2021, and participates in the ESG Data Convergence Initiative.

Name

Volpi Capital

Legal name

Volpi Capital LLP

Website

https://volpicapital.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Volpi Capital is a Pan-European private equity firm specializing in lower mid-market B2B software and tech services, investing €25-75 million equity per deal with a buy-and-build strategy across 45+ geographies and managing approximately €1.1 billion across three funds.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

Keywords

• Private equity investment
• Lower mid-market investing
• B2B software investing
• Buy-and-build strategies
• Growth equity capital

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Management Fees: Standard private equity management fee structure charged on committed capital under management
2. Carried Interest: Performance-based carried interest from successful fund realizations and exits

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Volpi Capital is a specialist Pan-European private equity firm that invests equity capital in lower mid-market B2B software and technology companies, typically committing €25-75 million of equity per deal in businesses with enterprise values between €50 million and €200 million. The firm provides hands-on operational support alongside capital, executing international expansion and buy-and-build strategies through a portfolio spanning Europe.

Product overview

Volpi Capital is a specialist Pan-European lower mid-market private equity firm that provides investment capital and strategic partnership services to B2B software and technology companies. Rather than offering software products, the firm offers private equity investment funds and hands-on operational support to help portfolio companies scale through international expansion, geographic growth, and buy-and-build strategies. The firm typically invests 25-75 million euros of equity in businesses with enterprise values between 50 million and 200 million euros. The portfolio includes companies such as Boyum IT (manufacturing and supply chain software), Asolvi (field service management software), Moving Intelligence (fleet management software), Cyclomedia (geospatial capture solutions), Yaveon (Microsoft Dynamics ERP for life sciences), Evitec (Nordic fintech software), and others across smart mobility, core business software, and data and application services sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Volpi Capital Fund I
• Volpi Capital Fund II
• Volpi Capital Fund III

Quantifiable outcome

• 3.6x Realised Track Record (Multiple on Capital)
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• ESG Data Convergence InitiativeminorStrategic or Co-development PartnerVolpi Capital is a member of the ESG Data Convergence Initiative, which tracks six primary metrics across portfolio to increase availability and comparability of key environmental, social and governance metrics.
• Principles for Responsible Investment (UN PRI)minorStrategic or Co-development PartnerVolpi Capital has been a signatory to UN PRI since 2021, committed to integrating principles into investment lifecycle from deal screening to due diligence and post-investment monitoring until exit.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Hg (Hg Capital): London-based private equity firm specialising in software and technology investments across Europe, with a comparable focus on enterprise software, vertical SaaS, and tech-enabled services. Closest direct competitor for B2B tech lower mid- to mid-market deals in Europe.
• Inflexion: UK private equity firm investing in lower mid-market businesses, with a notable focus on B2B software and tech-enabled services. Directly comparable on deal size, sector tilt, and buy-and-build style.
• Livingbridge: UK mid-market PE investor with a long-standing specialism in technology, software, and data businesses. Competes for similar founder-led B2B tech transactions at the €50-200M EV range.
• Bowmark Capital: London-based private equity firm focused on UK lower mid-market companies, including in the technology and business services sectors. Comparable deal size and direct UK PE competitor for management buyouts.
• LDC (Lloyds Development Capital): One of the most active UK mid-market PE investors with broad sector exposure including technology and tech-enabled services. Directly comparable on deal size and UK lower mid-market focus.
• Graphite Capital: London-based mid-market PE firm investing in UK businesses with enterprise values typically in the £50-200M range. Comparable on deal size, mid-market positioning, and management buyout approach.
• Montagu Private Equity: London-headquartered mid-market PE firm investing across Europe with significant exposure to technology, business services, and financial services. Directly comparable in size and sector mix.

Broad incumbents

• Bridgepoint: Major European mid-market PE firm with technology, services, and consumer exposure. Larger and broader than Volpi, but competes for European B2B tech lower mid-market opportunities and exits.
• Permira: Global PE firm with a strong European footprint and significant technology and software investment activity. Larger than Volpi, but directly relevant as an acquirer of Volpi's portfolio companies and competitor at the upper end of the mid-market.
• Insight Partners: Large global software and technology investor with strong European activity. A potential exit partner and co-investor for Volpi's larger platforms, and an indirect competitor for European B2B tech deals at the higher end of Volpi's range.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/volpi-capital-llp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments14 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Volpi Capital